Fintech Daily Information Briefing on [December 30, 2020]
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The following is the Fintech Daily Information Briefing on [December 30, 2020] recommended by recordtrend.com. And this article belongs to the classification: Fintech Daily Briefing.
[1]. Foreign media: eToro is considering a $5 billion IPO
EToro, the cryptocurrency trading and investment management platform, is considering a $5 billion IPO. According to reports, eToro’s IPO is expected to be completed by the end of the second quarter of 2021, and eToro is discussing with Goldman Sachs on leading the IPO. EToro is also considering the possibility of merging with special purpose acquisition companies to “accelerate access to Wall Street transactions.”. The report did not disclose any sources. (related reading: eToro: the world’s largest social investment platform)
[2]. Wefox, a German insurance technology platform, is expected to be profitable in 2021
Recently, Julian teicke, founder and CEO of wefox, a German insurance technology platform, said in an interview that the company expects total revenue to reach 300 million euros and is expected to make a profit in 2021. Wefox was founded six years ago, which is different from other competitors who sell products directly. Wefox mainly provides customers with product and service purchasing opinions. Not long ago, wefox just opened an office in Switzerland and obtained the license of insurance service operation in Poland. In the future, it has plans to enter the Italian market.
[3]. Transferwise, a cross border transfer platform, plans to go public in 2021
Recently, according to Sky News, transferwise, an international transfer and payment platform, may conduct an IPO in London in 2021. Transferwise was founded ten years ago, with investors including Richard Branson and paypal founders Max Levchin and Peter Thiel. Through its digital platform, transferwise greatly improves the efficiency of cross-border payment, and effectively reduces the user rate, which has been widely concerned by the market.
[4]. India plans to levy an 18% goods and services tax on its currency transactions
According to the times of India, the Indian government is considering a proposal to impose an 18% goods and services tax (GST) on the transaction of the bitcoin. It is estimated that about 4 billion rupees (US $53.4 million) will be taxed annually. The Central Economic Intelligence Agency (ceib) of the Ministry of finance has submitted the proposal to the Central Committee on indirect taxes and customs (CBIC). According to sources from the Ministry of finance, ceib proposes to classify bitcoin as “intangible assets”.
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